kcjenkins

I agree with Michael, there are lots of good reasons to file the 1065, besides [maybe] more income for you. While you may or may not charge more for the LLC's 1065 than you would charge for the two C's. it does tend to reduce the audit risk, since fewer 1065s are selected than Cs. And it is good for estate planning reasons, has some liability protection, etc. It's never an absolute, but it is often a wise choice for both the clients and the professional.

Have you looked at this one? http://www.speedyscan.biz/freedemo/ I have not, but was told by a friend that it was good. Have not had time to look at it yet.

If you go to the asset entry form, and go to the disposition tab, it should take that to the 4797, automatically, with the info. You don't need the 8582 when it is a total disposition, because the loss is no longer limited. And checking the box at the top of the E for total disposition should bring the suspended loss over.

:bday:

Well, IRS has always treated a 'detached' garage as seperate from the residence, so I don't think you can argue for that one very successfully. On the other hand, if the garage is used 75% for business, you can take a % of the cost of the windows as a business expense.

They buy the program in large 'lots', at wholesale price, basically. Remember, CCH [in fact all software companies] have a fixed cost to develop a program, but selling extra copies does not significantly increase their costs. The main cost that they have, for extra copies, is the support function. So they sell the program themselves, at retail prices, with full support. They also sell to the TRX at wholesale, with all the features, but no support. TRX provides the support for those users. This costs CCH little to do, brings in extra income, and also, to some extent, feeds them new customers, they hope, when some of those new users move up to their premium products. Plus it allows them to attract the low-end user market, without having to appear to cut their prices. TRX can sell it cheaper because they buy it cheaper. But the 'marginal cost' for CCH of these extra copies is basically the cost to print an extra CD. It's similar to GM or Ford selling to Avis or another rental chain at a significant discount over what they sell through dealers. They want to get their cars into the rental market, so that renters will try out their cars and hopefully decide that they like the model enough to change to it the next time they buy a new car. And they can take a lower profit per car, because they don't have to pay commissions on the sale, and don't have as much cost in processing one big sale over processing many single sales.

Yes, it is possible, for 06 and 07, but too late for 05. However, the court can NOT just 'mandate' that he change his filing status, if he is unwilling to do so. The court might hit him with higher settlement costs, if he refuses, but if he is smart, he will probably refuse. Filing jointly would make him liable for her taxes, and if her records are not good, and she's audited, as many 'divorce' returns are, and she ends up owing more, he would suddenly find himself on the hook. As for him taking the mortgage and RE Tax deductions, if he was the one who paid the mortgage, he's legally entitled to take them. Be careful, Brewster, when hearing only one side in a "messy divorce", usually they both 'slant' the story in their favor. Plus the fact that he has filed, but she has not, makes me tend to trust him a bit more than her, in a he said, she said, situation.

Well, I'm pretty short [5' 2"] and by the end of tax season I'm pretty green too, so I'm already getting close! :lol:

I understand. I'm leaning strongly toward going with TRX myself, just have one final question, about networking, and then I'll decide. I'm glad I decided to ask more questions, because [understandably] the answers from the CCH salespeople were not completely accurate. They naturally try to scare us into staying with them, but the answers I found from Braedan cleared up my fears. Next I'll have to decide what to do with the $996 that I will save.

I think it would be best to keep it open a bit longer, here, for those who never think about looking at any of the other forums. And I expect I will be going with them next year, myself. Paying $699 for the same thing that I can get for $1695 is just about impossible not to take. I can use the extra almost $1K for other things. Braeden cleared up my major question, because I do understand that CCH still benefits from selling 'in volume' even at a reduced price, and of course they hope to get the sales when ATX customers decide it is time to 'move up' to one of their pricier premium products.

Thank you all for those kind words and thoughts. Eric comes up with the titles. Wonder if I'll ever make 'Jedi Master'? :lol:

In July 2007 a South Carolina judge approved a $6 million settlement of a class-action lawsuit that had been brought against JK Harris by the Attorneys General of 18 states, including the AG of South Carolina, home to JK Harris' headquarters. The suit claimed that JK Harris & Company was charging customers fees for resolving back tax debts, but then failed to deliver on their promises, and engaged in deceptive marketing and advertising practices. The company denied the allegations but agreed to settle the lawsuit in April 2007. Judge Perry M. Buckner III approved the settlement in early July 2007. JK Harris also agreed to fulfill other terms of the settlement including changing business practices related to their advertising and billing, as well as the claim to have hundred of "offices" nationwide, which was shown to be untrue. You might want to save this to hand to anyone who quotes those ads.

First, look at the SS card. Then use the rules for long names. The problem is caused by hyphenated names, or multiple first or last names separated with dashes. The IRS strips these characters from the e-file. To transmit the return, you must remove the extraneous characters from the name field(s). Replace a dash (-) in multiple-part names with a space. In hyphenated names, drop the hyphen. In the Return Manager, update the information under the Returns and E-file tabs to reflect these changes. You will now be able to transmit the e-file(s). IRS recommends truncating names using the following methods: Substitute an initial for the second given name. Omit the second initial of the secondary taxpayer, if necessary. Omit the second initial of the primary taxpayer, if necessary. Substitute initials for the secondary taxpayer's given name. Substitute initials for the primary taxpayer's given name. While these rules are for the primary and spouse, I think you could use the same logic for a dependant.

By all means, please attach a copy of it, Catherine.

Even if someone leaves ATX, they are still welcome here. We have lots of Drake users, for example. and even a few Pro Series, I think. Whether the 'bells and whistles' are worth the extra money is a very personal decision which no one cam make for you. It depends on a lot of factors. The only way to know for sure is to get the demo program [i'd advise get it NOW] and then do some returns on it, and see if it feels better to you, enough better to justify the cost. It's like buying a new printer. Some folks have time on their hands, and will be happy with a slow printer that is very cheap, while someone else, even if they have the same volume, needs more speed so that the printer does not become the bottleneck in their office. Some people feel the need for a program that has more automatic checks, etc, even if they must pay more. And some programs are faster at doing RALs, which in my office would not mean a thing to me, because I don't do them. But if you do, then that might be worth the extra cost in Jan alone. It's not something that can have one answer.

What you should have done, for future reference, was to go to the spouse fields, the name and SSN, and hit 'restore' on each field. It almost always means that there is something, maybe a . or maybe just a 'space', in that field. Restore the space, and it corrects the problem.

We really have a member with that name? First time I've seen it, but anyway. :lol:

:bday:

Click on My Computer, then right click on the hard drive, select Properties, and it will show you the size of the drive, and how much space is used and how much is free.

That is a BIG prize out there, $8,000 extra refund, just for filing one form. It's clear that some preparers are crooks anyway, so it's not surprising that they would jump on this one.

The new election to extend the carryback period [3, 4, or 5 years] is on the General tab, and at the very bottom. Must be included, if you want that option. See Rev Proc -2009-19 for details.

When you enter the itemized or standard deduction on line 6 of the worksheet, your NOL will go away.

:bday:

Well, next year any custom changes you made to the client letter will roll over to the new program.

I feel like I need to go to a chiropractor after just watching that !!!!!!!